Prodways Group (PWG) Q2 2024 TU earnings summary

Executive summary

• Q2 2024 revenue reached €15 million, down 3% year-over-year on a comparable basis due to scope changes and IFRS 15 reclassification.

• The first half of 2024 revenue totaled €30.4 million, a 4% decrease year-over-year on a comparable basis.

• The transition period concluded in Q2, with expectations for revenue growth and improved profitability in H2 2024.

Financial highlights

• Q2 2024 consolidated revenue: €15.2 million (published IFRS), €15.0 million (current scope), down 3% year-over-year.

• H1 2024 consolidated revenue: €30.4 million (current scope), down 4% year-over-year.

• Systems division Q2 revenue: €7.3 million, up 4% year-over-year on a comparable basis.

• Products division Q2 revenue: €8 million, down 9% year-over-year on a comparable basis.

Outlook and guidance

• Revenue growth of +1% to +5% on a comparable basis targeted for 2024.

• Current EBITDA margin expected to improve in H2 2024.

• Half-year results to be published on September 18, 2024, with anticipated improvement over H2 2023.